Some consumers keep asking themselves whether you can top up a loan. The answer is simple, because if the same conditions apply as for the first loan, then there are no problems with the increase. Even more likely is a loan commitment, if the term has been running for some time. The bank was able to see over time whether the customer had always paid his installment on time.

Increase the credit

Whether and to what extent a loan can be increased depends on the respective bank and the creditworthiness of the customer. If the installments for the previous loan were always paid on time and nothing changed in the overall economic situation of the customer, then an increase is possible. The procedure is simple. A new loan is taken and the remaining loan amount paid.

It is not simply the credit increased, but it must be requested a new loan. However, this can be expensive, because many banks require a prepayment penalty for early loan repayment. That could be the case with a credit increase. If you want to know exactly, just look in his credit documents. This includes a prepayment penalty and the amount to be paid.

It is especially the online banks that no longer apply this practice. Therefore, it makes sense to search the Internet for a bank with better terms. The customer is not obliged to increase the credit with the previous bank.

Take a loan from another bank

Ultimately, it depends on the creditworthiness of the client, but it is possible to borrow from another bank. Although the bank checks the creditworthiness, if there were no difficulties with the repayment, then a commitment is likely. Whether this is the right way depends on the required loan amount. For a second loan, interest also accrues and installments must be paid to the bank.

This inevitably leads to a double burden on interest and installments. If you want to top up the loan under these conditions, you’re better off. There is guaranteed to be a bank on the Internet through a loan calculator that offers loans at particularly favorable terms.

When the personal and economic situation has changed

Completely pointless is a request for an increase if the personal or economic situation of the borrower has changed. Suppose that in the meantime he has become unemployed. Since the installments were always paid on time, this fact is not known to the bank. But who wants to increase his credit, is again subject to an examination by the bank consultant. At least now it is noticeable that the customer is unemployed. A loan commitment does not exist despite the punctual payments and a still good credit rating.

Another problem could be a divorce. If the previous credit agreement was on both spouses and now the credit is to be increased, then the bank is likely to cause difficulties. In such a case, only one borrower would be added to the contract. But the salary would have to suffice. Previously, both incomes were counted.

So there are cases in which an increase from the outset is excluded. Basically one should remember that with a new credit all criteria must be fulfilled, as with the first credit. If there have been drastic changes during the credit period, then a commitment is questionable.

Let’s find out what funding can be requested by those who are resident in the Piedmont Region. We will see all the best calls for proposals for this 2019 for the granting of non-repayable loans for the creation of new businesses. The subsidized loans for B & B and for agriculture are also very interesting.business loan

How they work and who they are addressed to

Among the many offers of loans that can currently be found on the market, the cheapest ones are probably the subsidized loans offered by the various Regions. In this page we will deal specifically with the Piedmont Region, which offers its residents excellent opportunities for this 2019. Perhaps not everyone knows that by turning to their own Region you have the opportunity to access the calls that allow you to obtain financing on terms extremely advantageous. This is possible thanks to the money that every year the Italian State allocates but also thanks to the European funds. Let’s see then what are the main facilities that can be accessed if you are resident in Piedmont or if the location of your business is within the region.

There are several subsidized loans available for 2019. First of all, it is good to specify that this type of loans are aimed at starting a job or investing in an activity already started to extend its boundaries. The loans that can be requested by contacting the Piedmont Region can certainly not be considered as personal loans, which have the characteristic of being non-finalized loans. Basically in the case of personal loans the sum of money paid can be used for any purpose, while for loans granted by the Region is not so. This is therefore the first characteristic that defines how the subsidized loans offered by the Piedmont Region work. The reason why the various projects for the assignment of loans at advantageous conditions are born is to revive the regional economy and consequently the entire national economy. So all this would make little sense if the funds were used for classic personal loans, which is why accurate checks are made on the use of the funds allocated.

What are the facilities on loans that can be accessed by citizens residing in the Piedmont Region? There are different types of facilities, which make this type of financing particularly attractive. Above all, the best loan for the beneficiary is undoubtedly the non -repayable loan. This form of financing is characterized by the fact that the amount paid the customer will have to repay only a part, given that the remaining part is in fact fund. Another very interesting loan that can be accessed through the Piedmont Region is the low-interest loan. On this product there is little to add, since it is simply a loan with a lower interest rate than that usually applied by banks and financial institutions. Finally, zero-interest loans are often provided by the Piedmont Region, which provide for a 0% Tan interest rate.

Who are the loans offered by the Piedmont Region for 2019 for? There are different categories of residents who can access these facilities. Among the advantages of these products there are also the required requirements. In any case, in fact, no income or assets guarantees are provided. What determines whether the customer will be able to access the funding provided through the call is the type of company that wants to start. In Piedmont, tenders are available for every sector of the economy, from those that address new businesses to those for B & Bs, agriculture and more. The competition notice specifies the categories of company that can access the financing and the eligible expenses that can be faced with the money disbursed through the loan. On the basis of these requisites, non-repayable loans, at a subsidized or zero interest rate, are defined to whom.

Non-repayable and zero-interest bids for new companies in the Piedmont Region: eligible requirements and expenses

As we said, therefore, the funding of the Piedmont Region mainly aims to encourage the establishment of new businesses. In particular, loans aimed at companies with high technological and innovative content are active. Among the most interesting calls we find, for example, the ” Smart & Start ” project. This call is aimed at those activities that are registered in the special section of the Business Registry which is called ” Innovative Startups “. To be able to present the request it is necessary that the company is small (production up to a maximum of 5 million euros) and that the goods or services produced are highly innovative in fact. The facility for start-ups in Piedmont will be equal to 70% of the planned spending plan and the loan will be zero-rate. Furthermore, if the new company is made up entirely of young people up to age 35 or women, the zero-interest loan will go up to 80% of the eligible expenses. The latter will include the purchase of machinery, computer hardware and software products, license patents and personnel management.

There are several calls for those interested in setting up new businesses. If you are looking for the right financing in Piedmont then another very interesting tender is Microcredit at a subsidized rate for startups. This is a loan granted thanks to European funds, and is aimed not only at companies but also at all self-employed and individual businesses. The only constraint is that the beneficiaries must be holders of a VAT number for less than 5 years and have less than 5 employees. The financing that can be requested through this announcement reaches up to 25,000 euros and can go up to 35,000 euros in the event that the loan agreement provides for the fractioned payment of the amount. The loans provided will be very convenient as they will have a facilitated rate, in addition to the fact that no real guarantees will be required for the request. The amount thus paid can be used for eligible expenses, which include everything that is strictly connected to one’s work activity. Therefore, the eligible expenses include the purchase of goods, services and raw materials necessary for production, but also the remuneration of new employees and costs for training courses aimed at increasing their skills.

Funding for B & B in Piedmont 2019: features and facilities

Among the subsidized loans we can find in the Piedmont Region there are those specifically aimed at Bed & Breakfast. Over the years this commercial activity has grown considerably in Italy, where tourism is a particularly important sector of the economy and probably not yet exploited properly. More and more those who decide to open a B & B because it is a business that can yield a good income. If you are interested in opening a B & B in Piedmont then you will be pleased to know that for this 2019 a call is active that is right for you. The development of Bed & Breakfast is in fact one of the projects that fall within the RDP 2014-2020. What is it? The Rural Development Program defined up to 2020 aims to promote the creation of commercial activities in the Italian rural areas.

So even in Piedmont you can access subsidized loans if you are interested in opening a B & B. The envisaged facility is a non -repayable loan for 40% of eligible expenses. This percentage rises to 50% if the B & B rises in mountain areas or if the activity is managed entirely by young people. Obviously, not everyone can access this extremely advantageous type of financing. The creation of a B & B is indeed one of the extra-agricultural activities that can be financed. Among the requirements is that for which the structure where the Bed & Breakfast will take place is in an area with development problems. Moreover, in order to be able to present the request it is important to be already in possession of the buildings where the activity will be started: among the eligible expenses, the purchase of houses is not included.

Subsidized loans for agriculture in Piedmont for lost funds: required requirements

Among the sectors most affected by subsidized loans offered by the Piedmont Region for 2019 is that of agriculture. In fact, several calls offer the necessary funds to develop agricultural and extra-agricultural activities (the establishment of B & B is among them). In Piedmont there is in fact need to make the most of rural areas, and it is certainly no coincidence that this year, 28 million have been allocated for the development of agro-industry within the regional territory. Agricultural businesses will have access to a non-repayable loan for 40% of eligible expenses. These will be aimed at increasing production but also in investing in technological innovation. For this reason, among the eligible expenses there is the purchase of new machinery, alongside the costs for the diffusion of the products and therefore for advertising, organization of events and so on.

Not all agricultural enterprises can access non-repayable loans provided by the Piedmont Region. The aim of the tender is indeed to promote the production of products using local raw materials. Among the required requisites there is in fact that for which the products used by other companies are less than two thirds. This therefore rewards companies that use their raw materials, produced in the local area. Among the extra-agricultural activities financed with non-repayable loans in Piedmont there are all tourism services in rural areas, aimed at spreading knowledge on the territory and on agriculture. Therefore eligible expenses are those for the organization and promotion of support services for the use of the territory, landscaped routes with tourist guides and activities accessible also for the disabled and sustainable activities.

Creditworthiness

Creditworthiness, or the ability to repay debts on time and in the manner envisaged, is a key factor in accessing the financing necessary for companies to develop their activities.

The creditworthiness of a company is assessed primarily on the basis of the information contained in the SIC (Credit Information Systems), IT archives that contain the data on the loans requested and provided by the banks. In particular: type of credit and phase of the request, expected repayment plan, progress of payments, residual debt and any data related to recovery activities or disputes.

In addition to this information, industry and economic data – especially financial statements, indicating the health status of the business – and information from public sources, such as the Chamber of Commerce, related to to the company, both to members and to its members.

It is thanks to this information – based on the good credit history of the company, without necessarily requiring additional guarantees – that banks and finance companies can correctly manage the process of disbursement of loans, limiting excessive risks and avoiding the over-indebtedness of those who request credit.

Good creditworthiness allows businesses easier access to credit. Not only that, as an indicator of the company’s solidity and its economic situation, it also fosters greater confidence on the part of possible investors. It is therefore a fundamental element for a healthy, transparent and conscious economic management.

To help companies better manage their credit situation, Mister Loan has developed Advanti Business : an online consulting service that allows you to check the credit history of your company – also useful for knowing its credit potential – and provides a global assessment of the company based on credit data, presence of public information and sector / economic data.